MIRA
INFORM REPORT
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Report Date : |
13.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
RISING STAR DMCC |
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Registered Office : |
Royal Diamond Building, 4th Floor, Suite 403, Gold Souq, PO Box 120394, Dubai |
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Country : |
United Arab Emirates |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
10.02.2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Traders of Jewellery and Precious Stones. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : RISING STAR DMCC
Country of Origin : Dubai, United Arab Emirates
Legal Form : Limited Liability Company
Registration Date : 10th February 2005
Trade Licence Number : 30221
Membership Number : 0296
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Total Workforce : 2
Line of Business : Traders of jewellery and precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
RISING STAR DMCC
ADDRESS
Registered & Physical Address
Building : Royal
Diamond Building, 4th Floor, Suite 403
Area : Gold Souq
PO Box : 120394
Town : Dubai
Country : United Arab
Emirates
Telephone : (971-4) 2269091 / 4948008
Facsimile : (971-4) 2354004
Email : salwa@pkfuae.com
Premises
Subject operates from a small suite of offices and a showroom that are rented
and located in the Central Business Area of Dubai.
KEY PRINCIPALS
· Atish
Mehta Managing
Director
· Bhavik
Reena General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 10th
February 2005
Legal Form : Limited Liability
Company
Trade Licence No. : 30221
Membership No. : 0296
Issued Capital : UAE Dh 300,000
Paid up Capital : UAE Dh 300,000
Name of Shareholder (s)
· Atish
Mehta
LINE OF BUSINESS
Operations: Traders of jewellery and precious stones.
Import Countries: Thailand, India and Europe
Operating Trend : Steady
Subject has a workforce of 2 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : United Arab Emirates Dirham (UAE Dh)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue UAE
Dh 3,850,000 UAE Dh
4,190,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Habib Bank Ltd
Trade Service
Centre
Murshid Bazaar
PO Box : 888
Dubai
Tel : (971-4) 2221281
Fax : (971-4)
2284631
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was uncovered
regarding subject’s operating history or the manner in which payments are
fulfilled. As such the company is considered to be a fair trade risk.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)